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Global index compiler MSCI plans to increase weighting of Chinese stocks in its global benchmarks

Global index compiler MSCI said on Thursday it will sharply increase the representation of Chinese stocks in its global benchmarks.The inclusion factor of yuan-traded A shares will be raised to 20 per cent from the current 5 per cent in MSCI’s indexes in three steps, the New York-based index compiler said in a statement, with the full increase in effect by November.“On completion of this three-step implementation,” the indexer said, “there will be 253 Large and 168 Mid Cap China A shares,… Source link

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Global equities’ sudden surge follows a steep December drop-off, and both are overreactions

Last December, the benchmark S&P 500 equity index suffered its worst final four weeks of the year since 1931 as investors fretted about a too-hawkish Federal Reserve, a sharp slowdown in Europe and China and the lack of meaningful progress in trade negotiations between Washington and Beijing.Fast forward two months, and the S&P 500 is enjoying its best start to the year since 1987, up 11.3 per cent since the beginning of January. It is not just American stocks that have rebounded spectacularly… Source link

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Opinion | Why Huawei should lie low and plan a US listing instead of going on the offensive

Huawei founder Ren Zhengfei said in 2015 he had “already transferred” his duties to a successor. So when it comes to his recent remarks about Huawei, should the world understand him to be speaking as a father, whose daughter is still in detention in Canada, and not as a businessman whose words still carry weight? Photo: AFP  Source link

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Vietnam 

Investors ’overreact’ to summit flop – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese shares were hit hard on Thursday as a no-deal summit between the US and the Democratic People’s Republic of Korea (DPRK) struck investors hard and spread a massive sell-off across the trading board. The benchmark VN Index on the Hồ Chí Minh Stock Exchange plunged 24.80 points or 2.50 per cent to close at 965.47 points, the market’s worst fall since October 11, 2018 when it plummeted more than 48 points or 4.84 per cent. The southern market index gained…

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China 

‘Painful’ enforcement ahead for China if trade war deal is reached with US insisting on unilateral terms

As the United States and China attempt to hammer out a deal that would put an end to the trade war, there are serious concerns among US officials and business about how any agreement would be enforced.The US is demanding that China make structural changes to its economy in the areas of forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.US President Donald Trump also demanded that China “purchase a not yet… Source link

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Mandarin Oriental foresees reduced profits from closure of Excelsior as iconic hotel goes for redevelopment

Mandarin Oriental International, owner of the iconic waterfront Excelsior hotel, reported a 19 per cent rise in underlying profits last year bolstered by strong performance at its Hong Kong properties.But the luxury hotel chain operator admitted that the closure of the Excelsior would largely dent its profits this year, which contributed nearly 40 per cent to its overall underlying earnings in 2018.Mandarin Oriental posted underlying earnings of US$65.1 million for 2018, compared to US$54.9… Source link

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Hong Kong’s Sino Land reports half-year profit of HK$2.37 billion, expects improved sales in second half

Hong Kong property developer Sino Land reported a 73 per cent drop in underlying net profit attributable to shareholders for the July to December period, with the decline attributed to distortions created by one-off asset disposals in the year earlier period.Underlying profit, excluding the revaluation gains on investment property, was HK$2.37 billion (US$301.92 million) compared to HK$8.93 billion in 2017, according to a filing with the Hong Kong Stock Exchange on Thursday.Its revenue jumped… Source link

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Chinese physicist hit by US visa delay misses out on collecting prestigious science award

Chinese quantum physicist Pan Jianwei was unable to attend a science award ceremony in Washington in February because of a US visa delay, underscoring tensions between Washington and Beijing that are having a negative impact on scientific collaboration, according to experts.Forty-nine year old Pan and a 34-member team he led were awarded the 2018 Newcomb Cleveland Prize.Established in 1923, the annual prize is the oldest awarded by the American Association for the Advancement of Science (AAAS)… Source link

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Vietnam 

Hà Nội Stock Exchange has new deputy chairperson – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Deputy finance minister Huỳnh Quang Hải (right) gave the ministry’s decision to appoint Nguyễn Như Quỳnh, member of the board of directors at the Hà Nội Stock Exchange as the bourse’s new chairperson. — Photo tapchitaichinh.vn Viet Nam News HÀ NỘI — The Ministry of Finance on Thursday appointed Nguyễn Như Quỳnh, member of the board of directors at the Hà Nội Stock Exchange, as the new deputy chairperson of the northern market bourse. The 43-year-old will replace the exchange’s deputy chairperson Nguyễn Thị Hoàng Lan on March…

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Vietnam 

Vietnamese startup raises $7 million from Silicon Valley – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Elsa Speak is an English learning application. — Photo elsaspeak.net Viet Nam News HÀ NỘI — Elsa Speak, an English learning application, has successfully raised US$7 million in funding from Google and Silicon Valley in the US. The successful capital call raises Elsa Speak’s total investment capital to $12 million from well-known funds in Silicon Valley and Asia. This funding came from Gradient Ventures. This is a venture capital fund investing in artificial intelligence (AI) in Google, aiming at providing financial support and technological advice to…

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